Real Estate

Plans continue for proposed Greece shopping center

Submitted by Lynette Adams, General Assignment Reporter

Wednesday, March 21st, 2012, 11:29pm

Plans continue for proposed Greece shopping center

They say it will be a "lifestyle center."

The proposed Greece development, called Hampton Ridge Center, will add big anchor stores, specialty shops, restaurants and office space to a plot of vacant land on West Ridge Road just west of Elmgrove Road.

Yesterday, COMIDA approved tax breaks for Baldwin Real Estate, a company owned by the DiMarco Group. It promises new development will create 300 jobs.

The development will be a companion to the plaza where Kohl's department store is located just a few hundred feet away. This second phase would offer a 445,000 square feet of anchor stores and specialty shops.

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Government proposes 20% down payment on all home mortgages

Submitted by Amy Merrill on Wednesday, August 3rd, 9:40 am

The Federal Government is proposing a required 20% down payment on all home mortgages. This would make home ownership more expensive for responsible consumers and puts the fragile housing recovery in jeopardy.

Congress passed a law intended to prevent future banking collapses. Federal regulators have taken that law and created a new rule called Qualified Residential Mortgage (QRM) This new rule proposes a minimum 20% down payment on a home purchase for the most affordable rates. This would create a high down payment for first-time and low-income home buyers. The QRM would also make refinancing much more expensive for credit-worthy homeowners too.

The National Association of Realtors (NAR) and 44 organizations have banded together to create the Coalition for Sensible Housing Policy to draw attention to the proposed regulation's 20% down p ayment requirement. NAR and its coalition of partners are asking consumers

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Rochester named one of top 13 cities where home prices are projected to rise

Submitted by Amy Merrill on Friday, January 28th, 3:19 pm

Clear Capital has compiled a list of 13 cities that they predict will have rising home prices in 2011. Rochester, NY was named as number 11.

Clear Captial analyzed housing data around the country, predicting that home prices in other areas will fall another 3.7 percent. House prices fell 4% nationally last year according to Clear Capital, but rose 5% in the Rochester, NY region.

According to Alex Villacorta from Clear Capital, "Some housing markets are well on their way to recovery, while others are experiencing a renewed downturn reminiscent of the housing crash only two years ago. The two clear drivers are local unemployment rates and the prevalence of distressed homes."

Foreclosure sales and tax incentives are boosting real estate in some areas of the country. The complete list of regions Clear Capital name is below:

1. Washington D.C. - Arlington VA - Alexandria VA
2.

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$2,000 First-Time Homebuyer Grants Available

Submitted by Amy Merrill on Wednesday, October 27th, 8:06 pm

NYSAR Housing Opportunities Foundation has partnered with the Community Foundation for the Greater Capital Region to award first-time homebuyer grants to New York State first-time homebuyers.

Each $2000 grant will be awarded to help defray closing costs and down payment expenditure. A First-Time Homebuyer is defined as a person who has not owned their primary residence for 3 years and does not own a vacation or investment home.

Limited grants are available, contact me for more information by phone at 585-662-3363 or email Amy@AmyMerrill.net

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